Lot 20 Freehold Investment In Neighbourhood ParadeAuction Date:
1st November 2023
156/156A Faversham Road, Kennington, Ashford, Kent, TN24 9AE
Currently let at £16,500 per annum
An end-terrace investment located in a neighbourhood parade in the popular district of Kennington, which lies on the western side of Ashford and a short drive to Junction 9 of the M20. The entire property, which comprises a ground floor shop (currently trading as Kennington Barbers) and a three-bedroom maisonette with separate access to the rear, is let under a 10-year lease from 2018.
The ground floor has been underlet on a Lease Agreement dated 1st November 2020 with Landlord Licence, and the maisonette has been underlet on an Assured Shorthold Tenancy Agreement dated 1st May 2023 with landlord licence.
The maisonette has a gas heating system via radiators and double glazed windows.
Commercial
156 Faversham Rd - Ground Floor
Main salon, rear room (staff room) and W.C. with wash- hand basin.
Outside
Parking spaces to rear.
Residential
156A Faversham Rd
External staircase leading to communal causeway for the maisonettes above the parade of shops.
First Floor
Private entrance, entrance hall, kitchen and living room.
Second Floor
Landing, three bedrooms and bathroom/W.C.
Tenancy
The entire property is let under the terms of a 10-year lease from 13th April 2018 and ending on and including the 12th April 2028 at a current rental of £16,500 per annum.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
